Liechtenstein Disclosure Facility (LDF) - anticipated to raise £1billion

September 4th 2009

At a speech to the Scottish CBI annual dinner, the Chancellor of the Exchequer is reported to have said that the Liechtensrein Disclosure Facility will raise £1 billion- more than twice what the Offshore Disclosure Facility of 2007 raised.

The BBC reported Mr Darling as saying:

“ tackling offshore evasion tax evasion and tax havens was “not only fair” but “particularly important… especially at a time when we expect public spending in the period ahead to be tighter”

The BBC commented that up to 5,000 British investors are thought to have funds in secret accounts in Liechtenstein - which would mean an average pay-back of £200,000.

More details can be found at:

http://news.bbc.co.uk/1/hi/business/8237185.stm

Please call Iain Macleod on 07920 146800 for a free confidential discussion or email imacleod@edftax.co.uk.